Nikkei slips to 1-week low on Trump's woes, trade uncertainty

By Tomo Uetake
TOKYO, Sept 25 (Reuters) - Japan's Nikkei share average fell
to a one-week low on Wednesday after U.S. lawmakers called for
an impeachment inquiry into President Donald Trump, while weak
U.S. consumer confidence data heightened worries over the
Sino-U.S. trade row.
The benchmark Nikkei average .N225 dropped 0.4% to
22,020.15, its lowest close since Sept. 18, while the broader
Topix .TOPX dipped 0.2% to 1,620.08, tracking a dismal Wall
Street session.
Both indexes climbed to their highest finish in five-months
the previous day.
U.S. shares slipped in volatile trade overnight, giving the
S&P 500 .SPX its biggest one-day drop in a month, as a push
for impeaching Trump gained momentum among Democrats in
Congress. Major Wall Street indexes earlier lost their footing when
Trump took a harsh tone about China's trade practices at the
United Nations General Assembly, saying he would not accept a
"bad deal" in U.S.-China negotiations. Further pressuring Wall Street was the disappointing
consumer confidence data. On Tokyo's bourse, oil and coal products .IPETE.T and
machinery .IMCHN.T were among the worst performing of the 33
subsector indexes, down 1.0% and 1.2%, respectively.
One of the few bright spots was the air transport .IAIRL.T
sector, up 1.1%, with Japan Airlines 9201.T and ANA Holdings
9202.T rising 1.2% and 1.0%, respectively.
Oil prices fell on Wednesday for a second day on worries
about falling fuel demand after Trump's comments doused optimism
over China-U.S. trade talks and reignited concerns on global
economic growth. O/R
Other notable movers included Nintendo Co 7974.T , shedding
4.3% after Bloomberg reported initial domestic shipments of the
gaming firm's "Switch Lite" were softer than expected.
Traders said Wednesday's profit-taking came as no surprise
as some technical indicators looked overheated.
Indeed, the benchmark Nikkei's 14-day relative strength
index (RSI) hit 97.4 the previous day, its highest in nearly two
years. An RSI reading above 70 would be considered "overbought."

(Editing by Jacqueline Wong)